It’s not just here in Sacramento! Nation-wide; Multiple Offers Are The Norm!
August 18th, 2009 Categories: Real Estate News
If it’s priced right, everybody wants it! It’s not just a Sacramento area phenomenon; all across the country; especially where foreclosures, short sales and bank owned properties are prevalent– homes that are even the slightest bit undervalued, are being swarmed by buyers.
Especially in the price ranges where policemen, firemen, teachers and court reporters can buy, homes priced to sell are being attacked by hungry first time buyers and investors.
Many times these homes have only been on the market for days, even hours… other times they have been on the market and have been ignored, and the seller has finally dropped the price. And then everybody wants it– we’ve seen as many as twenty offers for shortsales or bank owned homes that are priced 5–10% below the competition.
I see it a lot; where the home might sit with no offers, getting showings but no “bites”; but then with a price reduction,of even 3–5% sometimes you can entice offers. Lots of them are from buyers who may have seen the home weeks earlier, and now when everyone wants it; they do to
Homes in great condition that represent a value when compared to recent sales will bring buyers form both categories; investors looking for cash-flow and first time buyers looking for a well maintained home with no problems they can move into without taking time or spending money to make repairs.
